NLEX Corporation and a Subsidiary
NLEX Corporation (Formerly Manila North Tollways Corporation) (A Subsidiary of Metro Pacific Tollways Development Corporation) and A Subsidiary Consolidated Financial Statements December 31, 2016 and 2015 and Years Ended December 31, 2016, 2015 and 2014 and Independent Auditor’s Report SyCip Gorres Velayo & Co. Tel: (632) 891 0307 BOA/PRC Reg. No. 0001, 6760 Ayala Avenue Fax: (632) 819 0872 December 14, 2015, valid until December 31, 2018 1226 Makati City ey.com/ph SEC Accreditation No. 0012-FR-4 (Group A), Philippines November 10, 2015, valid until November 9, 2018 INDEPENDENT AUDITOR’S REPORT The Board of Directors and Stockholders NLEX Corporation Opinion We have audited the consolidated financial statements of NLEX Corporation (formerly Manila North Tollways Corporation, a subsidiary of Metro Pacific Tollways Development Corporation) and its subsidiary (the Company), which comprise the consolidated balance sheets as at December 31, 2016 and 2015, and the consolidated statements of income, consolidated statements of comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows for each of the three years in the period ended December 31, 2016, and notes to the consolidated financial statements, including a summary of significant accounting policies. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as at December 31, 2016 and 2015, and its consolidated financial performance and its consolidated cash flows for each of the three years in the period ended December 31, 2016 in accordance with Philippine Financial Reporting Standards (PFRSs). Basis for Opinion We conducted our audits in accordance with Philippine Standards on Auditing (PSAs).
[Show full text]